FLIP FLOP............ This past weeks psychology looks to flip to a reverse psychology next week as there will be only four days to get positioned before the Monday, September 12, USDA crop report released at 7:30 AM central time prior the opening of the market. This past week was an easy call. With month-end midweek, and a three-day holiday ahead of course funds fat with profits took those profits to the bank and pay those handsome bonuses on profits taken while balancing books. This week was sell the rallies but next week will be buy the brakes, as no one will want to be short and speculators will want to be long ahead of that big crop report. After pulling grains down all week, Friday saw some buying re-enter as another private crop forecasters came out with very low yield and production estimates for corn and beans, more so than last weeks crop tour results. WXRISK.COM the weather site sees the heat dome back in the southwestern winter wheat states by late next week into midmonth. Caution on next week as a hurricane in the gulf this weekend could shift and bring rains to the drought stricken Texas and Oklahoma area. Right now it looks like only a good cloud coverage with lower temperatures and rain in southern Texas and Louisiana. The Midwest looks cool but dry all week, which is bullish for late filling beans. The weeks lows. we just saw should hold into the September 12 crop report. December corn support sits at 7.34 then 7.26. November beans support sits at 14.30 then 14.10. December wheat support is 7.60 then 7.30. This new short week is a buy week funds, so be ready to buy dips.
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